Document And Entity Information (USD $)	12 Months Ended
Document And Entity Information (USD $)	Dec. 31, 2014	Mar. 11, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Celsion CORP
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		19,984,703
Entity Public Float			$ 68,261,264
Amendment Flag	false
Entity Central Index Key	0000749647
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 12,686,881	$ 5,718,504
Investment securities – available for sale, at fair value	24,173,406	37,156,381
Accrued interest receivable on investment securities	210,030	212,048
Advances and deposits on clinical programs	200,821	111,635
Other current assets	235,133	563,551
	37,506,271	43,762,119
Property and equipment (at cost, less accumulated depreciation and amortization of $1,633,517 and $1,264,190, respectively)	1,170,497	832,886
Other assets:
Goodwill	1,976,101
Security deposit on letter of credit	150,000	200,000
Deferred financing fees	68,049	844,249
Other assets	21,886	31,318
	28,017,764	1,075,567
Total assets	66,694,532	45,670,572
Current liabilities:
Accounts payable ─ trade	3,480,225	1,452,436
Other accrued liabilities	2,456,365	2,707,653
Notes payable - current portion	3,654,231	10,891
Deferred revenue – current portion	500,000	500,000
Total current liabilities	10,090,821	4,670,980
Earn-Out milestone liability	13,663,710
Common stock warrant liability	275,008	3,026
Note payable – non-current portion	6,053,065	5,000,000
Deferred revenue – non-current portion	3,500,000	4,000,000
Other liabilities – noncurrent	286,592	472,731
Total liabilities	33,869,196	14,146,737
Commitments and contingencies	0	0
Stockholders’ equity:
Preferred Stock - $0.01 par value (100,000 shares authorized and no shares issued or outstanding at December 31, 2014 and 2013, respectively)	0	0
Common stock - $0.01 par value (75,000,000 shares authorized; 20,097,603 and 13,737,970 shares issued at December 31, 2014 and 2013 and 19,984,203 and 13,604,975 shares outstanding at December 31, 2014 and 2013, respectively)	200,976	137,380
Additional paid-in capital	229,778,703	203,139,142
Accumulated other comprehensive loss	(16,032)	(44,166)
Accumulated deficit	(195,073,702)	(169,287,157)
	34,889,945	33,945,199
Treasury stock, at cost (113,400 and 132,995 shares at December 31, 2014 and 2013, respectively)	(2,064,609)	(2,421,364)
Total stockholders’ equity	32,825,336	31,523,835
Total liabilities and stockholders’ equity	66,694,532	45,670,572
In Process Research and Development [Member]
Other assets:
In-process research and development	$ 25,801,728

Consolidated Balance Sheets (Parentheticals) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Accumulated depreciation (in Dollars)	$ 1,633,517	$ 1,264,190
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	20,097,603	13,737,970
Common stock, shares outstanding	19,984,203	13,604,975
Treasury stock, shares	113,400	132,995

Consolidated Statements of Operations (USD $)	12 Months Ended
Consolidated Statements of Operations (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Licensing revenue	$ 500,000	$ 500,000
Operating expenses:
Research and development	14,969,382	9,364,228	15,770,166
General and administrative	8,860,549	6,547,257	6,372,551
Acquisition costs	1,385,263
Total operating expenses	25,215,194	15,911,485	22,142,717
Loss from operations	(24,715,194)	(15,411,485)	(22,142,717)
Other income (expense):
Gain (loss) from valuation of common stock warrant liability	204,279	8,090,636	(4,117,534)
Gain from valuation of earn-out milestone liability	213,949
Investment income (loss), net	77,194	(12,744)	52,322
Interest expense	(1,326,438)	(915,235)	(359,413)
Other income (expense)	51,937	(2,530)	(1,040)
Total other (expense) income	(779,079)	7,160,127	(4,425,665)
Net loss	(25,494,273)	(8,251,358)	(26,568,382)
Non-cash deemed dividend from beneficial conversion feature on convertible preferred stock		(4,601,410)
Net loss attributable to common shareholders	$ (25,494,273)	$ (12,852,768)	$ (26,568,382)
Net loss per common share – basic and diluted (in Dollars per share)	$ (1.38)	$ (0.95)	$ (3.44)
Weighted average common shares outstanding – basic and diluted (in Shares)	18,472,399	13,540,566	7,730,904

Consolidated Statements of Comprehensive Loss (USD $)	12 Months Ended
Consolidated Statements of Comprehensive Loss (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net loss	$ (25,494,273)	$ (8,251,358)	$ (26,568,382)
Changes in:
Realized loss on investment securities recognized in investment income, net	24,727	92,364	7,580
Unrealized (loss) gain on investment securities	3,407	(9,923)	142,513
Other comprehensive income	28,134	82,441	150,093
Comprehensive loss	$ (25,466,139)	$ (8,168,917)	$ (26,418,289)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	$ (25,494,273)	$ (8,251,358)	$ (26,568,382)
Non-cash items included in net loss:
Depreciation and amortization	369,327	339,229	281,489
Change in fair value of common stock warrant liability	(204,279)	(8,090,636)	4,117,534
Change in fair value of earn-out milestone liability	(213,949)
Cash received for non-refundable research and development fee		5,000,000
Deferred revenue	(500,000)	(500,000)
Stock based compensation	2,585,132	1,235,437	1,143,764
Shares issued out of treasury	64,483	98,046	107,049
Amortization of deferred finance charges and debt discount associated with note payable	437,994	336,387	43,215
Amortization of patent license fee	7,500	7,500	7,500
Change in deferred rent liability	(24,375)	(18,940)	55,256
Loss realized on sale of investment securities	24,727	92,364	7,580
Net changes in:
Interest receivable on investments	2,018	(146,123)	177,820
Prepaid expenses and other current assets	77,468	(121,235)	585,595
Deposits and other assets	1,932	(116,181)	18,721
Accounts payable	1,764,563	(887,332)	(1,344,379)
Other accrued liabilities	(251,288)	1,497,566	(776,955)
Net cash used in operating activities	(21,353,020)	(9,525,276)	(22,144,193)
Cash flows from investing activities:
Purchases of investment securities	(29,825,918)	(66,323,059)	(16,394,358)
Proceeds from sale and maturity of investment securities	42,812,300	37,194,375	18,478,591
Cash used in acquisition of EGEN, Inc., net of cash received	(2,820,649)
Refund on security for letter of credit	50,000	50,000
Purchases of property and equipment	(672,256)	(57,494)	(613,390)
Net cash provided by (used in) by investing activities	9,543,477	(29,136,178)	1,470,843
Cash flows from financing activities:
Proceeds from sale of preferred stock, net of issuance costs		13,616,432
Proceeds from sale of common stock equity, net of issuance costs	13,788,811	15,622,955
Proceeds from exercise of common stock warrants	0	261,944	10,106,557
Proceeds from exercise of common stock options	0	184,047	697,220
Proceeds from note payable	5,000,000	4,763,803	4,825,494
Principal payments on note payable	(10,891)	(5,060,711)	(110,287)
Net cash provided by financing activities	18,777,920	29,388,470	15,518,984
Increase (decrease) in cash and cash equivalents	6,968,377	(9,272,984)	(5,154,366)
Cash and cash equivalents at beginning of period	5,718,504	14,991,488	20,145,854
Cash and cash equivalents at end of period	12,686,881	5,718,504	14,991,488
Cash paid for:
Interest	$ 892,600	$ 637,183	$ 359,413

Consolidated Statements of Change in Stockholders' Equity (USD $)	Preferred Stock [Member]	Preferred Stock [Member] Common Stock [Member]	Preferred Stock [Member] Additional Paid-in Capital [Member]	Series A Redeemable Convertible Preferred Stock [Member] Additional Paid-in Capital [Member]	Series A Redeemable Convertible Preferred Stock [Member]	Hercules Warrant [Member] Additional Paid-in Capital [Member]	Hercules Warrant [Member]	Common Stock Warrants (Member) Common Stock [Member]	Common Stock Warrants (Member) Additional Paid-in Capital [Member]	Common Stock Warrants (Member)	Direct and ATM [Member] Common Stock [Member]	Direct and ATM [Member] Additional Paid-in Capital [Member]	Direct and ATM [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Balance at December 31 at Dec. 31, 2011															$ 75,332	$ 158,887,403	$ (2,884,125)	$ (267,700)	$ (129,608,341)	$ 26,193,568
Balance at December 31 (in Shares) at Dec. 31, 2011															7,374,739		158,384
Net loss																			(26,568,382)	(26,568,382)
Unrealized gain on investments available for sale																		150,093		150,093
Valuation of common stock warrants in connection with notes payable				73,654	73,654
Conversion of convertible securities								8,455	10,156,437	10,164,892
Conversion of convertible securities (in Shares)								845,526												847,715
Stock-based compensation expense																1,143,764				1,143,764
Issuance of restricted stock and option exercise															586	696,643				697,220
Issuance of restricted stock and option exercise (in Shares)															58,618
Issuance of common stock out of treasury																	193,614		(86,565)	107,049
Issuance of common stock out of treasury (in Shares)															10,624		(10,624)
Balance at December 31 at Dec. 31, 2012															84,373	170,957,891	(2,690,511)	(126,607)	(156,263,288)	11,961,858
Balance at December 31 (in Shares) at Dec. 31, 2012															8,289,507		147,760			729,825
Net loss																			(8,251,358)	(8,251,358)
Stock issued, new issues											25,880	15,598,670	15,624,550	150		18,217,702				18,217,852
Stock issued, new issues (in Shares)											2,588,032			15,001
Classification of warrants to/from common stock warrant liability, net																(3,809,730)				(3,809,730)
Non-cash dividend on beneficial conversion feature associated with the preferred stock offering																			(4,601,410)	(4,601,410)
Unrealized gain on investments available for sale																		82,441		82,441
Valuation of common stock warrants in connection with notes payable				521,763	521,763
Conversion of convertible securities	(150)	26,828	(26,678)					180	261,764	261,944
Conversion of convertible securities (in Shares)	(15,001)	2,682,759						18,021												15,833
Stock-based compensation expense																1,235,437				1,235,437
Issuance of restricted stock and option exercise															129	183,918				184,047
Issuance of restricted stock and option exercise (in Shares)															12,872
Issuance of common stock out of treasury																	269,147		(171,101)	98,046
Issuance of common stock out of treasury (in Shares)															14,765		(14,765)
Fractional share payment															(10)	(1,595)				(1,605)
Fractional share payment (in Shares)															(981)
Balance at December 31 at Dec. 31, 2013															137,380	203,139,142	(2,421,364)	(44,166)	(169,287,157)	31,523,835
Balance at December 31 (in Shares) at Dec. 31, 2013															13,604,975		132,995			863,462
Net loss																			(25,494,273)	(25,494,273)
Stock issued, new issues											36,036	13,752,775	13,788,811
Stock issued, new issues (in Shares)											3,603,604
Common stock issued in connection with the acquisition of EGEN, Inc. assets															27,122	10,823,855				10,850,977
Common stock issued in connection with the acquisition of EGEN, Inc. assets (in Shares)															2,712,188
Unrealized gain on investments available for sale																		28,134		28,134
Valuation of common stock warrants in connection with notes payable						(521,763)	(521,763)
Stock-based compensation expense																2,513,042				2,513,042
Issuance of restricted stock and option exercise															438	71,652				72,090
Issuance of restricted stock and option exercise (in Shares)															43,841
Issuance of common stock out of treasury																	356,755		(292,272)	64,483
Issuance of common stock out of treasury (in Shares)															19,595		(19,595)
Balance at December 31 at Dec. 31, 2014															$ 200,976	$ 229,778,703	$ (2,064,609)	$ (16,032)	$ (195,073,702)	$ 32,825,336
Balance at December 31 (in Shares) at Dec. 31, 2014															19,984,203		113,400			1,751,773

Note 1 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

Celsion Corporation, a Delaware corporation based in Lawrenceville, New Jersey, and its wholly owned subsidiary, CLSN Laboratories, Inc., also a Delaware corporation, referred to herein as “Celsion”, “we”, or “the Company,” as the context requires, is a fully-integrated oncology drug development company focused on developing a portfolio of innovative cancer treatments, including directed chemotherapies, immunotherapies and RNA- or DNA-based therapies. Our lead program is ThermoDox®, a proprietary heat-activated liposomal encapsulation of doxorubicin, currently in Phase III development for the treatment of primary liver cancer. Our pipeline also includes GEN-1 (formerly known as EGEN-001), a DNA-based immunotherapy for the localized treatment of ovarian and brain cancers. We have three platform technologies for the development of treatments for those suffering with difficult-to-treat forms of cancer, novel nucleic acid-based immunotherapies and other anti-cancer DNA or RNA therapies, including TheraPlas™ and TheraSilence™. We are working to develop and commercialize more efficient, effective and targeted oncology therapies based on our technologies, with the goal to develop novel therapeutics that maximize efficacy while minimizing side-effects common to cancer treatments.

Basis of Presentation

The accompanying consolidated financial statements of Celsion have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States and include the accounts of the Company and CLSN Laboratories, Inc. All intercompany balances and transactions have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that affect the amount reported in the Company’s financial statements and accompanying notes. Actual results could differ materially from these estimates.

Events and conditions arising subsequent to the most recent balance sheet date have been evaluated for their possible impact on the financial statements and accompanying notes. No events and conditions would give rise to any information that required accounting recognition or disclosure in the financial statements other than those arising in the ordinary course of business. See Note 18 for a summary of subsequent events.

Certain items in the prior period financial statements have been reclassified to conform to the current period presentation.

Revenue Recognition

At the inception of each collaborative agreement that includes milestone payments, the Company evaluates whether each milestone is substantive on the basis of the contingent nature of the milestone, specifically reviewing factors such as the scientific and other risks that must be overcome to achieve the milestone, as well as the level of effort and investment required. Milestones that are not considered substantive and that do not meet the separation criteria are accounted for as license payments and recognized on a straight-line basis over the remaining period of performance. Payments received or reasonably assured after performance obligations are met completely are recognized as earned.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and investments purchased with an original maturity of three months or less. A portion of these funds are not covered by FDIC insurance.

Fair Value of Financial Instruments

The carrying values of financial instruments approximate their respective fair values.

Short Term Investments

The Company classifies its investments in marketable securities with readily determinable fair values as investments available-for-sale in accordance with Accounting Standards Codification (ASC) 320, Investments - Debt and Equity Securities. Available-for-sale securities consist of debt and equity securities not classified as trading securities or as securities to be held to maturity. The Company has classified all of its investments as available-for-sale. Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive gain or loss in stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method. The Company’s short term investments consist of corporate bonds and government agency bonds.

Property and Equipment

Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the related assets, ranging from three to seven years, using the straight-line method. Major renewals and improvements are capitalized at cost and ordinary repairs and maintenance are charged against operating expenses as incurred. Depreciation expense was approximately $369,000, $339,000 and $281,500 for years ended December 31, 2014, 2013 and 2012, respectively.

The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model.

Deposits

Deposits include real property security deposits and other deposits which are contractually required and of a long-term nature.

Goodwill and In-Process Research and Development

During 2014, the Company acquired certain assets of EGEN, Inc. As more fully described in Note 5, the acquisition was accounted for under the acquisition method of accounting which required the Company to perform an allocation of the purchase price to the assets acquired and liabilities assumed. Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets and liabilities based on their estimated fair values as of the acquisition date.

Patent Licenses

The Company has purchased several licenses for rights to patented technologies. Patent license costs of $63,125 have been capitalized and are amortized on a straight-line basis over the estimated life of the related patent. As of December 31, 2014, the total accumulated amortization expense is $41,500. The weighted-average amortization period for these assets is 10 years.

Comprehensive Income (Loss)

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income and its components in the Company’s consolidated financial statements. The objective of ASC 220 is to report a measure (comprehensive income (loss)) of all changes in equity of an enterprise that result from transactions and other economic events in a period other than transactions with owners.

Research and Development

Research and development costs are expensed as incurred. Equipment and facilities acquired for research and development activities that have alternative future uses are capitalized and charged to expense over their estimated useful lives.

Net Loss Per Common Share

Basic and diluted net income/(loss) per common share was computed by dividing net income/(loss) for the year by the weighted average number of shares of Common Stock outstanding, both basic and diluted, during each period. The impact of Common Stock equivalents has been excluded from the computation of diluted weighted average common shares outstanding in periods where there is a net loss, as their effect is anti-dilutive.

For the years ended December 31, 2014, 2013 and 2012, outstanding equity awards of 1,751,773, 863,462 and 729,825 shares, respectively, and warrants outstanding to purchase 5,069,815, 3,170,520 and 1,747,478 shares, respectively, were considered anti-dilutive and therefore were not included in the calculation of diluted shares.

Income Taxes

Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax asset and liabilities of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In accordance with ASC 740, Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. The Company recognizes interest and/or penalties related to income tax matters in the income tax expense category. The Company remains subject to examination for income tax returns for the years ending after 2010.

Stock-Based Compensation

Compensation costs for all stock-based awards is measured at fair value on the date of the grant and recognized over the service period for awards expected to vest. Such value is recognized as expense over the service period. The estimation of stock-based awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from the current estimates, such amounts will be recorded as cumulative adjustment in the period estimates are revised. We consider many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by FASB and are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to our operations.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09 Revenue from Contracts with Customers (Topic 606). This guidance is intended to improve and converge with international standards the financial reporting requirements for revenue from contracts with customers. It will be effective for our first quarter of 2017 and early adoption is not permitted.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Note 2 - Financial Condition

12 Months Ended

Dec. 31, 2014

Financial Condition [Abstract]

Financial Condition [Text Block]

2. FINANCIAL CONDITION

Since inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted in connection with the Company’s product candidates, and applications and submissions to the Food and Drug Administration. The Company believes these expenditures are essential for the commercialization of its technologies. As a result of these expenditures, as well as general and administrative expenses, the Company has an accumulated deficit of $195 million as of December 31, 2014.

The Company expects its operating losses to continue for the foreseeable future as it continues its product development efforts, and when it undertakes marketing and sales activities. The Company’s ability to achieve profitability is dependent upon its ability to obtain governmental approvals, produce, and market and sell its new product candidates. There can be no assurance that the Company will be able to commercialize its technology successfully or that profitability will ever be achieved. The operating results of the Company have fluctuated significantly in the past. The Company expects that its operating results will fluctuate significantly in the future and will depend on a number of factors, many of which are outside the Company’s control.

The Company will need substantial additional funding in order to complete the development, testing and commercialization of its oncology product candidates and we have made a significant commitment to heat-activated liposome research and development projects and it is our intention at least to maintain, and possibly increase, the pace and scope of these activities. The commitment to these new projects will require additional external funding, at least until the Company is able to generate sufficient cash flow from sale of one or more of its products to support its continued operations.

If adequate funding is not available, the Company may be required to delay, scale back or terminate certain aspects of its operations or attempt to obtain funds through unfavorable arrangements with partners or others that may force it to relinquish rights to certain of its technologies, products or potential markets or that could impose onerous financial or other terms. Furthermore, if the Company cannot fund its ongoing development and other operating requirements, particularly those associated with its obligations to conduct clinical trials under its licensing agreements, it will be in breach of these licensing agreements and could therefore lose its license rights, which could have material adverse effects on its business. Management is continuing its efforts to obtain additional funds so that the Company can meet its obligations and sustain operations.

Note 3 - Short-term Investments Available for Sale

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. SHORT TERM INVESTMENTS AVAILABLE FOR SALE

Short term investments available for sale of $24,173,406 and $37,156,381 as of December 31, 2014 and 2013, respectively, consist of money market funds, commercial paper, corporate debt securities, and government agency debt securities. They are valued at estimated fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity in Accumulated Other Comprehensive Income.

Securities available for sale are evaluated periodically to determine whether a decline in their value is other than temporary. The term “other than temporary” is not intended to indicate a permanent decline in value. Rather, it means that the prospects for near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria such as the magnitude and duration of the decline, as well as the reasons for the decline, to predict whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, the value of the security is reduced and a corresponding charge to earnings is recognized.

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

	December 31, 2014				December 31, 2013
	Cost		Fair Value		Cost		Fair Value
Short-term investments
Certificate of deposit	$	5,000,000	$	4,996,568	$	3,840,000	$	3,835,083
Bonds- corporate issuances		19,189,438		19,176,838		33,360,576		33,321,298
Total short-term investments	$	24,189,438	$	24,173,406	$	37,200,576	$	37,156,381

	December 31, 2014				December 31, 2013
	Cost		Fair Value		Cost		Fair Value

Short-term investment maturities
Within 3 months	$	16,881,490	$	16,872,158	$	7,799,032	$	7,797,689
Between 3-12 months		7,307,948		7,301,248		29,401,544		29,358,692
Total	$	24,189,438	$	24,173,406	$	37,200,576	$	37,156,381

Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

	2014			2013			2012

Interest and dividends accrued and paid	$	1,015,182		$	748,947		$	712,947
Accretion of investment premium		(913,261	)		(669,344	)		(652,960	)
Losses on investment maturity and sales, net		(24,727	)		(92,346	)		(7,580	)
	$	77,194		$	(12,744	)	$	52,322

In 2009, the Company recorded an equity investment of approximately $108,000 for stock received as settlement of a transition agreement the Company previously entered into. The $108,000 asset value reflected the estimated net realizable value of 903,112 shares of Medifocus Inc. at the time of settlement. As of December 31, 2011, this entire amount had been reduced to $0 and was charged as an unrealized loss in other comprehensive loss. During the fourth quarter of 2012, the Company sold this stock for approximately $138,000, thereby recording a realized gain of approximately $30,000 in investment income and reversing the cumulative unrealized loss of $108,000 in other comprehensive loss.

The following table shows the Company’s investment securities gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2014 and 2013. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

	December 31, 2014					December 31, 2013
Description of Securities	Fair Value		Unrealized Holding Gains (Losses)			Fair Value		Unrealized Holding Gains (Losses)

Available for Sale (all unrealized holding gains and losses are less than 12 months at date of measurement)
Short-term investments with unrealized gains	–		–			$	6,650,095	$	1,907
Short-term investments with unrealized losses		24,173,406		(16,032	)		30,506,286		(46,073	)
Total	$	24,173,406	$	(16,032	)	$	37,156,381	$	(44,166	)

- Definition

The entire disclosure for investments in certain debt and equity securities.

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+ Details

Note 4 - Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

4. FAIR VALUES OF FINANCIAL INSTRUMENTS

FASB Accounting Standards Codification (ASC) Section 820, Fair Value Measurements and Disclosures, establishes a three tier level hierarchy for fair value measurements which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions that market participants would use in pricing an asset or liability.

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

Cash and cash equivalents, other current assets, accounts payable and other accrued liabilities are reflected in the balance sheet at their estimated fair values primarily due to their short-term nature. There were no transfers of assets of liabilities between Level 1 and Level 2 and no transfers in or out of Level 3 during 2014 except for the change in the fair market value of the warrant liability and the change in the earn-out milestone liability were included in earnings.

Assets and liabilities measured at fair value are summarized below:

	Total Fair Value on the Balance Sheet		Quoted Prices In Active Markets For Identical Assets /Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Recurring items as of December 31, 2014
Short-term investments available for sale	$	24,173,406	$	24,173,406		─	─

Non-recurring items as of December 31, 2014
In-process research and development (Note 5)	$	25,801,728	─		─		$	25,801,728

Goodwill (Note 5)	$	1,976,101	─		─		$	1,976,101

Recurring items as of December 31, 2013
Short-term investments available for sale	$	37,156,381	$	37,156,381	─		─

Liabilities:
Recurring items as of December 31, 2014
Common stock warrant liability (Note 13)	$	275,008	─		─		$	275,008

Earn-out milestone liability (Note 12)	$	13,663,710	─		─		$	13,663,710

As of December 31, 2013
Common stock warrant liability (Note 13)	$	3,026	─		─		$	3,026

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Note 5 - Acquisition of EGEN, Inc.

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

5. ACQUISITION OF EGEN, INC.

On June 20, 2014, Celsion completed the acquisition of substantially all of the assets of EGEN, Inc., an Alabama Corporation (EGEN) pursuant to an Asset Purchase Agreement (EGEN Purchase Agreement). CLSN Laboratories, Inc., a Delaware corporation and a wholly-owned subsidiary of Celsion (CLSN Laboratories), acquired all of EGEN’s right, title and interest in and to substantially all of the assets of EGEN, including cash and cash equivalents, patents, trademarks and other intellectual property rights, clinical data, certain contracts, licenses and permits, equipment, furniture, office equipment, furnishings, supplies and other tangible personal property. In addition, CLSN Laboratories assumed certain specified liabilities of EGEN, including the liabilities arising out of the acquired contracts and other assets relating to periods after the closing date.

The total aggregate purchase price for the acquisition is up to $44.4 million, which includes potential future payments of up to $30.4 million contingent upon achievement of certain milestones set forth in the EGEN Purchase Agreement (Earn-Out Payments). At the closing, Celsion paid approximately $3.0 million in cash after expense adjustment and issued 2,712,188 shares of its common stock to EGEN. The shares of Celsion’s common stock were issued in a private transaction exempt from registration under the Securities Act of 1933, as amended (the Securities Act), pursuant to Section 4(2) thereof. In addition, 670,070 shares of Celsion common stock are issuable to EGEN on or after August 2, 2016 pending satisfactory resolution of any post-closing adjustments of expenses and EGEN’s indemnification obligations under the EGEN Purchase Agreement (Holdback Shares). A Registration Statement (File No. 333-198786) was filed on September 16, 2014 and declared effective on September 30, 2014 for the resale of the shares of common stock issued and issuable to EGEN under the EGEN Purchase Agreement.

The Earn-Out Payments of up to $30.4 million will become payable, in cash, shares of Celsion common stock or a combination thereof, at Celsion’s option, as follows:

●

Certain specified development milestones relating to GEN-1 to treat ovarian cancer patients ($12.0 million);

●

Certain specified development milestones relating to GEN-1 to treat GBM cancer patients ($12.0 million); and

●

A self-liquidating payment of 50% of all fees received from the licensing of TherSilence (up to $6.0 million).

On June 9, 2014, Celsion borrowed an additional $5 million pursuant to a certain Loan and Security Agreement dated as of November 25, 2013, by and between Celsion and Hercules Technology Growth Capital, Inc. (see Note 10). Celsion used the loan proceeds to pay the upfront cash payment at closing and certain transaction costs incurred by Celsion in connection with the acquisition.

The EGEN Purchase Agreement contains customary representations and warranties regarding EGEN and Celsion, covenants regarding the conduct of EGEN’s business prior to the consummation of the acquisition, indemnification provisions, termination and other provisions customary for transactions of this nature.

The acquisition of EGEN was accounted for under the acquisition method of accounting which required the Company to perform an allocation of the purchase price to the assets acquired and liabilities assumed. The fair value of the consideration transferred for the acquisition is approximately $27.6 million determined as follows:

Consideration Paid at Closing
Cash, net of cash acquired	$	2,821,000
Celsion common stock (2,712,188 shares valued at $3.48 which was the last closing price of our common stock at the time of closing the transaction on June 20, 2014)		9,438,000

Future Consideration
Holdback Shares (670,070 shares of Celsion common stock which were discounted by 38% to reflect the cost of the restriction)		1,441,000
Earn-Out Payments (at fair value*)		13,878,000

Total fair value of consideration	$	27,578,000

* The total aggregate purchase price for the Egen Acquisition included potential future Earn-Out Payments contingent upon achievement of certain milestones. The difference between the aggregate $30.4 million in future Earn-Out Payments and the $13.9 million included in the fair value of the acquisition consideration at June 20, 2014 was based on the Company's risk-adjusted assessment of each milestone and utilizing a discount rate based on the estimated time to achieve the milestone. These milestone payments will be fair valued at the end of each quarter and any change in their value will be recognized in the financial statement. As of December 31, 2014, the Company fair valued these milestones at $13.7 million and recognized a gain of $231,949 as a result of the change in the fair value of these milestones from June 30, 2014.

Under the acquisition method of accounting, the total purchase price is allocated to EGEN’s net tangible and intangible assets and liabilities based on their estimated fair values as of the acquisition date. The table below summarizes the preliminary estimated fair values of EGEN’s net tangible and intangible assets and liabilities on the acquisition date. The purchase price allocations are preliminary and subject to change as more detailed analyses are completed and additional information with respect to the fair values of the assets and liabilities acquired becomes available.

Property and equipment, net		35,000
In-process research and development		25,802,000
Goodwill		1,976,000
Total assets:		27,813,000
Accounts payable and accrued liabilities		(235,000	)
Net assets acquired	$	27,578,000

The preliminary purchase price exceeds the estimated fair value of the net assets acquired by approximately $2.0 million which was recorded as goodwill. Transaction costs associated with the acquisition of assets from EGEN are included in Acquisition Costs in the Condensed Consolidated Statement of Operations and totaled $1,385,263 from the date of acquisition on June 20, 2014 through December 31, 2014.

Acquired In-Process Research and Development (IPR&D)

Acquired IPR&D consists of EGEN's drug technology platforms: TheraPlas^™ and TheraSilence^™. The fair value of the IPR&D drug technology platforms was estimated to be $25.8 million as of the acquisition date using the Multi-Period Excess Earnings Method (MPEEM) which is a form of the income approach. Under the MPEEM, the fair value of an intangible asset is equal to the present value of the asset’s incremental after-tax cash flows (excess earnings) remaining after deducting the market rates of return on the estimated value of contributory assets (contributory charge) over its remaining useful life.

To calculate fair value of the IPR&D programs under the MPEEM, we used projected cash flows discounted at a rate considered appropriate given the significant inherent risks associated with drug development by development-stage companies. Cash flows were calculated based on estimated projections of revenues and expenses related to the IPR&D programs and then reduced by a contributory charge on requisite assets employed. Contributory assets included debt-free working capital, net fixed assets and assembled workforce. Rates of return on the contributory assets were based on rates used for comparable market participants. Cash flows were assumed to extend through a seven-year market exclusivity period. The resultant cash flows were then discounted to present value using a weighted-average cost of equity capital for companies with profiles substantially similar to that of Celsion, which we believe represents the rate that market participants would use to value the assets. The projected cash flows were based on significant assumptions, including the indication in which we will pursue development of IPR&D programs, the time and resources needed to complete the development and regulatory approval of IPR&D programs, estimates of revenue and operating profit related to the program considering its stage of development, the life of the potential commercialized product, market penetration and competition, and risks associated with achieving commercialization, including delay or failure to obtain regulatory approvals to conduct clinical studies, failure of clinical studies, delay or failure to obtain required market clearances, and intellectual property litigation.

As of the closing of the acquisition, the IPR&D is considered indefinite lived intangible assets and will not be amortized. IPR&D will be reviewed for possible impairment on an annual basis by each year end or more frequently if events are indicative of impairment.

Pro Forma Information

The following unaudited pro forma information presents our condensed results of operations as if the acquisition of EGEN had occurred on January 1, 2013:

	Year ended December 31,
	2014			2013
Revenues	$	500,000		$	627,628
Loss from operations		(24,898,725	)		(18,247,339	)
Net loss applicable to common shareholders		(25,662,572	)		(15,952,832	)

The above unaudited pro forma condensed consolidated financial information is presented for illustrative purposes only. It is not necessarily indicative of what the results of operations actually would have been had the acquisition been completed on the date indicated. In addition, it does not purport to project the future operating results of the combined entity.

The operations of EGEN are included with our operations from the period of closing of the acquisition on June 20, 2014 to the end of 2014. The Company’s Statement of Operations included $2,297,000 of operating expenses related to the operations of the acquired business for the period from the date of acquisition (June 20, 2014) through December 31, 2014.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Note 6 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6. PROPERTY AND EQUIPMENT:

	December 31, 2014			December 31, 2013
Machinery and equipment (5-7 year life)	$	2,298,516		$	1,674,206
Furniture and fixtures (3-5 year life)		235,679			153,051
Leasehold improvements (5-7 year life)		269,819			269,819
		2,804,014			2,097,076
Less accumulated depreciation and amortization		(1,633,517	)		(1,264,190	)
Total	$	1,170,497		$	832,886

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Note 7 - Other Accrued Liabilities

12 Months Ended

Dec. 31, 2014

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

7. OTHER ACCRUED LIABILITIES

Other accrued liabilities at December 31, 2014 and 2013 include the following:

	December 31, 2014		December 31, 2013
Amounts due to Contract Research Organizations and other contractual agreements	$	857,730	$	1,711,934
Accrued payroll and related benefits		961,440		900,434
Accrued professional fees		502,300		63,500
Accrued interest on notes payable		96,875	–
Other		38,020		31,785
Total	$	2,456,365	$	2,707,653

Note 8 - Notes Payable

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8. NOTES PAYABLE

Hercules Credit Agreement

In November 2013, the Company entered into a loan agreement with Hercules Technology Growth Capital, Inc. (Hercules) which permits up to $20 million in capital to be distributed in multiple tranches (the Hercules Credit Agreement). The Company drew the first tranche of $5 million upon closing of the Hercules Credit Agreement in November 2013 and used approximately $4 million of the proceeds to repay the outstanding obligations under its loan agreement with Oxford Finance LLC and Horizon Technology Finance Corporation as discussed further below. On June 10, 2014, the Company closed the second $5 million tranche under the Hercules Credit Agreement. The proceeds were used to fund the $3.0 million upfront cash payment associated with Celsion's acquisition of EGEN, as well as the Company’s transaction costs associated with the EGEN acquisition. Upon the closing of this second tranche, the Company has drawn down a total of $10 million under the Hercules Credit Agreement.

The obligations under the Hercules Credit Agreement are in the form of secured indebtedness bearing interest at a calculated prime-based variable rate (11.25% per annum since inception). Payments under the loan agreement are interest only for the first twelve months after loan closing, followed by a 30-month amortization period of principal and interest through the scheduled maturity date.

In connection with the Hercules Credit Agreement, the Company incurred cash expenses of $122,378 which were recorded as deferred financing fees. These deferred financing fees are being amortized as interest expense using the effective interest method over the life of the loan. Also in connection with the Hercules Credit Facility, the Company paid loan origination fees of $230,000 which has been classified as debt discount. This amount is being amortized as interest expense using the effective interest method over the life of the loan.

As a fee in connection with the Hercules Credit Agreement, the Company issued Hercules a warrant for a total of 97,493 shares of the Company’s common stock (the Hercules Warrant) at a per share exercise price of $3.59, exercisable for cash or by net exercise from November 25, 2013. Upon the closing of the second tranche on June 10, 2014, this warrant became exercisable for an additional 97,493 shares of the Company’s common stock. The Hercules Warrant will expire November 25, 2018. Hercules has certain rights to register the common stock underlying the Hercules Warrant pursuant to a Registration Rights Agreement with the Company dated November 25, 2013. The registration rights expire on the date when such stock may be sold under Rule 144 without restriction or upon the first year anniversary of the registration statement for such stock, whichever is earlier. The common stock issuable pursuant to the Hercules Warrant was filed pursuant to Rule 415 under the Securities Act of 1933 on the Prospectus for Registration Statement No. 333-193936 and was declared effective on September 30, 2014.

The Company valued the Hercules Warrant issued at the inception of the loan using the Black-Scholes option pricing model and recorded $521,763 in 2013 as deferred financing fees. In calculating the value of the warrants, the Company assumed a volatility rate of 102%, risk free interest rate of 1.37%, an expected life of 5 years, a stock price of $3.55 (closing price on date of the Hercules Warrant) and no expected forfeitures nor dividends. In the second quarter of 2014, the Company reassessed the classification of the warrants and concluded the original amount should be reclassified from deferred financing fees and equity. Therefore, other assets and additional paid in capital were both reduced by the $521,763. The Company then valued the warrant for the initial 97,493 shares of the Company’s common stock as of the inception of the loan and recorded $260,928 as a debt discount to be amortized as interest expense using the effective interest method over the life of the loan and recognized a warrant liability for this amount. In connection with the closing of the second $5 million tranche on June 9, 2014, the Company then valued the warrant for the additional 97,493 shares of the Company’s common stock which became available and exercisable as of the date and recorded $215,333 as a debt discount to be amortized as interest expense using the effective interest method over the life of the loan and recognized a warrant liability for this amount. In calculating the value of the warrant for the additional shares of the Company’s common stock on June 10, 2014, the Company assumed a volatility rate of 104%, risk free interest rate of 1.69%, an expected remaining life of 4.5 years, a stock price of $3.07 (closing price June 9, 2014) and no expected forfeitures nor dividends. The warrant liability will be fair valued at the end of each quarter and the resulting change in fair value will be recognized in net income.

Also in connection with each of the $5.0 million tranches, the Company will be required to pay an end of term charge equal to 3.5% of each original loan amount at time of maturity. Therefore, these amounts totaling $350,000 are being amortized as interest expense using the effective interest method over the life of the loan.

For the year ended December 31, 2014, the Company incurred $892,188 in interest expense and amortized $433,839 as interest expense for deferred fees, debt discount and end of term charges in connection with the Hercules Credit Agreement.

The Hercules Credit Agreement contains customary covenants, including covenants that limit or restrict the Company’s ability to grant liens, incur indebtedness, make certain restricted payments, merge or consolidate and make dispositions of assets. Upon the occurrence of an event of default under the Hercules Credit Agreement, the lenders may cease making loans, terminate the Hercules Credit Agreement, declare all amounts outstanding to be immediately due and payable and foreclose on or liquidate the Company’s assets that comprise the lenders’ collateral. The Hercules Credit Agreement specifies a number of events of default (some of which are subject to applicable grace or cure periods), including, among other things, non-payment defaults, covenant defaults, a material adverse effect on the Company or its assets, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults and material judgment defaults. The Company has maintained compliance with these covenants.

Following is a schedule of future principle payments before debt discount due on the Hercules Credit Agreement:

	For the year ending December 31,

2015	$	3,654,231
2016		4,091,595
2017		2,254,174
2018 and thereafter	–
Total	$	10,000,000

Oxford & Horizon Credit Agreement

In June 2012, the Company entered into a Loan and Security Agreement (the Oxford & Horizon Credit Agreement) with Oxford Finance LLC (Oxford) and Horizon Technology Finance Corporation (Horizon). The Oxford & Horizon Credit Agreement provided for a secured term loan of up to $10 million, with 50% of any loans to be funded by Oxford and 50% to be funded by Horizon. The aggregate loan amount could have been advanced in two tranches of $5 million each. The first tranche (the Term A Loan) was made available to the Company on June 27, 2012 and the second tranche was to be made available, if at all, during the period beginning on the date that the Company achieved positive data in its Phase III clinical trial of RFA and ThermoDox® (the HEAT Study) and ending on March 31, 2013. On January 31, 2013, the Company announced it did not meet the primary endpoint of the HEAT Study.

The Term A Loan was originally scheduled to mature on October 15, 2015. As a result of the Hercules Credit Agreement discussed above, the Company terminated the Oxford & Horizon Credit Agreement and repaid the outstanding principle, accrued interest and termination fees totaling approximately $4.1 million.

The proceeds of the Oxford & Horizon Credit Agreement were used to fund the Company’s working capital and general corporate purposes. The obligations under the Oxford & Horizon Credit Agreement were secured by substantially all assets of the Company other than its intellectual property and certain other agreed-upon exclusions.

As a fee in connection with the Oxford & Horizon Credit Agreement, the Company issued warrants to Horizon and Oxford (the Oxford & Horizon Warrants) to purchase the number of shares of the Company’s common stock equal to 3% of each loan amount divided by the exercise price of $13.14 per share, which was calculated as the average NASDAQ closing price of the Company’s common stock for the three days prior to the funding of the loan amount. This resulted in 11,415 warrant shares issued in connection with the Term A Loan. The Oxford & Horizon Warrants issued in connection with the Term A Loan are exercisable for cash or by net exercise and will expire seven years after their issuance, which is June 27, 2019. The Company valued the Oxford & Horizon Warrants using the Black-Scholes option pricing model and recorded $73,654 as deferred financing fees. In calculating the value of the warrants, the Company assumed a volatility rate of 74.3%, risk free interest rate of 1.10%, an expected life of 3.5 years, a stock price of $12.60 which was the closing price on date of issuing the Oxford & Horizon Warrant) and no expected forfeitures nor dividends. In connection with the Oxford & Horizon Credit Agreement, the Company incurred cash expenses of $217,715 which were recorded as deferred financing fees in 2012. These deferred financing fees were amortized as interest expense over the life of the loan. During the first three months of 2013, the Company paid $146,874 in interest expense and amortized $31,560 of deferred financing fees as interest expense. The Term A Loan bore interest at a fixed rate of 11.75%.

Capital Lease

In November 2011, the Company financed $144,448 of lab equipment through a capital lease. This lease obligation had thirty monthly payments of $5,651 through February 2014. During 2014, the Company made principal and interest payments totaling $11,303 to satisfy the remaining obligation under this capital lease.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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